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Market Efficiency in Frontier Emerging Markets

Prelude to a hypothetical journey

Abstract

In the context of this book the concept of market efficiency becomes relevant as it lends itself as a framework to examine the behavior of securities returns on a level which is of interest to the portfolio manager, whose mandate it is to outperform a benchmark, and who can profit from or exploit gross market inefficiencies. Secondly, it is important to the policy maker, whose mandate it is to steer and control the development of a newly emerging market in order to achieve the benefits of an efficient equity market.

Keywords

Random Walk Stock Price Excess Return Equity Market Market Efficiency 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Kluwer Academic Publishers 1999

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